**Summary of Cordiant Digital Infrastructure Limiteds Third Quarter Trading Update (March 4, 2026):**
Cordiant Digital Infrastructure Limited (CORD), a leading operator and investor in digital infrastructure on the London Stock Exchange (LSE), released its third-quarter trading update for the financial year ending March 31, 2026. Key highlights include
1. **Intention to Migrate Listing**
CORD plans to move its ordinary shares from the Specialist Fund Segment to the Closed-ended Investment Funds category of the Official List on the LSEs Main Market. This migration aims to enhance market profile, liquidity, and eligibility for inclusion in the FTSE UK Index Series (FTSE 250), while improving accessibility for retail investors. Shareholder approval and regulatory clearance are required.
2. **Financial Performance (Nine Months to December 31, 2025)**
**Portfolio Revenue**£262.9 million, with 8.9% growth (constant currency).
**Portfolio EBITDA**: £125.1 millionup 7.1% (constant currency).
**AFFO Dividend Cover**1.8x for the target dividend of 4.35p per share.
**Liquidity**£240.8 million in cash and undrawn debt facilities.
**Gearing and Leverage**Consolidated gearing at 40.7% and net leverage at 4.7x, with over 70% of debt fixed or hedged.
3. **Operational Highlights**
**Prague Gateway Data Centre**Groundworks substantially completed
advanced negotiations for main construction.
**Acquisitions**CRA acquired nangu.TV, enhancing IPTV/OTT capabilities.
**Emitel**Signed new contracts in radio broadcasting and IoT
pursuing bolt-on acquisitions in data centres.
**Speed Fibre**Integrating BT Ireland acquisition
revenue and EBITDA growth driven by one-off items and ECL contribution.
4. **Portfolio Company Performance**
**Emitel (Poland)**Revenue up 6.9% and EBITDA up 6.7% (constant currency).
**CRA (Czech Republic)**Revenue down 0.5% but EBITDA up 1.4%
asset optimization expected to generate £12.3 million in cash.
**Speed Fibre (Ireland)**Revenue up 11.3% and adjusted EBITDA up 11.0%.
**Datacenter United (Belgium)**Revenue of £22.2 million and EBITDA of £6.8 million for nine months.
5. **Strategic Initiatives**
**Energy Hedging**CRA and Emitel have hedged energy requirements for 2026, mitigating volatility.
**Insider Ownership**Directors and the Investment Managers team increased holdings to 2.3% of shares.
6. **Dividend and Capital Allocation**
Dividend cover remains strong at 1.8x.
Focus on progressive dividend policy, bolt-on acquisitions, and growth capital expenditure with high IRRs.
7. **Sector Outlook**
Robust demand for digital infrastructure driven by digitisation, AI, and data localisation trends. CORD’s portfolio is well-positioned to capitalise on these opportunities.
**Chairman and Management Comments**
Shonaid Jemmett-Page and Steven Marshall expressed confidence in the company’s operational momentum, strategic growth initiatives, and the proposed migration to the Official List, which is expected to enhance shareholder value and market presence.
**Cautionary Note**
The update includes forward-looking statements subject to risks and uncertainties, including geopolitical, economic, and market conditions.
For more details, visit [www.cordiantdigitaltrust.com](http://www.cordiantdigitaltrust.com).